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Classic gift-claimed-stolen story from Kraft who hasn't gotten another SB ring since.
"Was the ring a gift? Kraft released a statement in 2005 that said the ring was a gift. However, Kraft said he only released the statement because the White House asked him to in an effort to avoid an international incident."

What's 50K to Putin? He could start a camp fire with that paper cash. lol...

If it starts getting blown out of proportion, he'll just give it back to keep good international relations with the US, which is worth a whole lot more in many senses than a tarnished Patriots superbowl ring.

Putin's camp says the ring was a gift, and a Kraft spokesperson seems to confirm it:

Putin arrived in London on Sunday to meet with British Prime Minister David Cameron, and Putin's spokesman, Dmitry Peskov, was asked about the Post story.

"Back in 2005 I stood behind the president's back and I saw how that ring was presented to him. All that talk about some kind of pressure that was exerted on him (Kraft) should be the subject of a detailed talk with psychoanalysts, I think,"

Peskov told The Associated Press. "At the same time, I am aware that this gentleman (Kraft) is feeling such a horrible pain about the 2005 loss," Peskov said. "The president will be ready to send him another ring as a gift, which he (Putin) can buy with his own money."

Stacey James, a spokesperson for the Kraft Group, the holding company for Kraft's business ventures, including the Patriots, said Sunday that the Post article shouldn't be taken too seriously.

"It's a humorous, anecdotal story that Robert retells for laughs," James said in a statement. "He loves that his ring is at the Kremlin, and, as he stated back in 2005, he continues to have great respect for Russia and the leadership of President Putin. In particular, he credits President Putin for modernizing the Russian economy. "